Free and Popular Indicators ⁽³⁰⁾

A simple indicator that can help traders define their trading zone based on the volatility identified by the Bandwidth of Band Based Technical Indicators such as Bollinger Band, Keltner Channel or Donchian Channel Link to the indicator: Relative Bandwidth Filter This script tries to identify the area of low and high volatility based on the comparison between Bandwidth of higher length and ATR of lower length. Relative Bandwidth = Bandwidth / ATR Bandwidth can be based on either Bollinger Band, Keltner Channel…

This technical indicator defines a trend based on popular band indicators. Instead of a reversal mindset, the indicator looks to identify breakouts as the trend Link to the indicator: Band-Based Trend Filter Contrary to the reversal mindset, we define trends when the price hits either side of the band. If the close price hits the upper band then it is considered bullish and if the close price hits the lower band, then it is considered bearish. Further, trend strength is measured in…

Session Filter is a simple trading indicator that enables traders to define their preferred trading sessions and optimise their approach based on individual preferences. Link to the Indicator: Trade Session Filter One of the key features of Session Filter is the ability to select from four different trading sessions. These sessions are designed to be flexible, making it easy to tailor your approach to specific markets, assets, and trading styles. By selecting the sessions that are most relevant to your strategy, you…

Volume profile is a useful tool to understand the demand and supply zones on the horizontal level. But, what if you want to measure the volume levels over the trend line? In trending markets, the feature to measure volume over angled levels can be very useful for traders who use these measures. Here is an attempt to provide such a tool. Link to the indicator: Angled Volume Profile Upon loading the script, you will be prompted to select The start and end…

Here is a simple volume profile indicator built using Pinescript's security_lower_tf feature. The indicator makes use of intrabar price action to define better accuracy in defining volume profile ranges. Link to the indicator: Interactive Volume Profile Upon loading the script, it will ask users to select the Time range to show the volume profile. Once you select the time range, confirmation input will pop up. Upon confirming the inputs, you will be able to view the volume profile When the indicator is…

An advanced technical indicator that scans for reversal chart patterns - Double Tap, Triple Tap, Cup and Handle, Head and Shoulder patterns Link to the Indicator: Recursive Reversal Chart Patterns Welcome to another exploration of Zigzag and Pattern ecosystem components. Previously we derived Pitchfork and Recursive Zigzag indicators. This indicator is designed to scan and highlight a few popular "Reversal Chart Patterns". Similar to other indicators in the ecosystem, this too is built on recursive zigzags. The indicator however names the patterns…

Here are some of the innovative technical indicators built on the Zigzag indicator combined with classical technical analysis and modern concepts. Link to the indicator: Zigzag Cloud Indicator This is Bollinger Band built on top of Zigzags instead of regular price + something more. The indicator presents 7 lines and clouds around it. This can be used to visualize how low or high the price is with respect to its past movement. Link to the indicator: Zigzag Candles Can't deny that we…

Volume is an important factor in technical analysis. This innovative indicator provides cumulative volume for each zigzag swing. This can help understand how much conviction is there in each swing. You can find the relative strength by comparing it to previous swing volumes. Link to the Indicator: Zigzag Volume Bars Here is an indicator that can help you visualise volume data on Zigzag swing highs and lows. Settings are pretty simple and provide a variety of display options. Bar Style can be Stack…

Here is an attempt to perform a comparative analysis between top cryptos based on strength (oscillator) and volume. The methodology used here is similar to the Magic Number formula described in the post: Enhanced Magic Formula for fundamental analysis. But, instead of using fundamentals, we are making use of a few technicals to derive similar outcomes. Usage of the available stats will not be the same as the Magic number since we are using technicals. Link to the Indicator: Crypto Volume Strength…

This is an attempt to develop alternative visualisation of financial charts that enables users to visualise intrabar movements along with OHLC values Link to the Indicator: New Electrocardiogram Chart Instead of candles/bars, this type of chart contains Electrocardiogram blocks that resemble the heartbeat signals on an electrocardiogram Inside each block, there will be 5 connecting lines called signal lines. The colour of the signal lines is determined by which among the high/low bars comes last. If the highest part of the bar…

This technical indicator is a simple yet very effective tool for the interpretation of the RSI - Relative Strength Index. Based on past RSI values the indicator generates dynamic overbought and oversold levels which is advantageous over the static 70/30 or 80/20 range. Link to the Indicator: RSI Dynamic Levels Default overbought/oversold levels of RSI do not hold well for instruments that are trending well. It happens often that instruments keep trading in a single half of the range for a prolonged…

This is a supertrend with a slightly twisted concept which can be very beneficial in strong trending markets to reduce stop loss distance and exit slightly quicker. Link to the Indicator: Supertrend Ladder ATR When the instrument is trending up, regular ATR shows high values if there are big green candles. This affects the stop loss distance in regular supertrend which leads to wide stops or delayed lagging. When you are in a long trade, what matters for stop-loss is how much…

Extreme Trend Reversal Points based on Recursive Moving Averages is an indicator designed to estimate reversal points based on how well the instrument has trended. The highlight of this indicator is that the calculations of moving averages are done in a recursive manner. Link to the indicator: Extreme Trend Reversal Points Using moving average crossover for identifying the change in trend is very common. However, this method can give lots of false signals during the ranging markets. In this algorithm, we try…

Don't want to rely on a single oscillator or zigzag periods, this indicator provides a bird's view of combined divergence status for multiple zigzag levels and multiple oscillators. Link to the Indicator: Multi Zigzag and Multi Oscillator Divergence This table is intended to give you a snapshot of how prices and oscillators are moving along with zigzag pivots. This is done along the same lines as Zigzag-Trend-Divergence-Detector But, here are the differences The table contains the following data: The sentiment is calculated…

The question which comes up quite often is that - "What is the probability of divergence resulting in a change of trend?" This is a hard nut and it can be devastating to follow divergence signals without other confirmations. At best, divergences can act as good support and resistance levels. This indicator treats divergence as a support resistance level and plots them on the chart. Though we are the ones who coined this concept, it has become very popular and also earned…